Take-Two Controlling Telstar

Take-Two Interactive announced Thursday that it has gained operating control of Telstar Electronic Studios, the interactive software division of UK-based music publisher Telstar Group plc.

The deal will put Take-Two in charge of all Telstar product development and all rights to publish and distribute any and all Telstar Electronic's products. Telstar Group plc. will still get some money in the form of varying percentages of Take-Two profits generated from the venture.

"The acquisition of Telstar's products is a further step in the company's efforts to broaden the number of PC and video games it releases," said Kelly Sumner, president of Take-Two Interactive Software Europe.

Over the course of the next six months, Take-Two will publish several Telstar products worldwide including Airport Inc. for the PC, Joe Blow for the PC, and Sony PlayStation, and Insurrection for the PC and Sony PlayStation. Take-Two will also distribute The Official South Park Screen Saver in Europe and a sequel screensaver for the EU market this fall.